Ocean Shipping Act

Ocean Shipping Act - Amends the Shipping Act of 1916 to include controlled carriers within the coverage of such Act. Defines "controlled carrier" as one which is directly owned, or whose operating assets are directly owned, by any government other than a government whose vessels by treaty are accorded most-favored-nation treatment or national treatment by the United States.

Directs that no controlled carrier shall maintain rates or charges or structures of rates or charges in its tareffs filed with the Commission that are above or below a level which is just and reasonable. Provides that in determining whether rates are reasonable, consideration shall be given to whether the rates or charges are below a level which is fully compensatory or above the level of rates or charges applicable to non-United States ports in countries adjacent to the United States so as to encourage diversion of cargo from United States ports.

Requires controlled carriers filing rates or charges or structures of rates or charges to designate and retain a registered agent within the United States. Forbids any controlled carrier to establish rates or charges which have the purpose or the effect of diverting or selectively diverting cargo from a United States port to or through a non-United States port in a country adjacent to the United States in order to avoid the provisions of this Act.

Authorizes the appropriation of $1,950,000 to carry out the provisions of this Act.